Another home run for Elon Musk! Tesla's new “Model Y” SUV will be revealed on March 14th. Bigger than a Model 3 but smaller than a Model X. Tesla CEO Elon Musk confirmed Sunday that the company will reveal its new Model Y SUV at an event in Los Angeles on March 14. The Tesla Model Y is a crossover SUV that will share 75 percent of its parts with the Model 3, which is Tesla's cheapest car. It will be Tesla's fifth car design since the company was founded.